Brits are ready for Bitcoin, but trust issues remain, Luno

Crypto wallet venture, Luno, has launched a Bitcoin Barometer which shows that an estimated 15.8 million UK residents either currently own or are open to owning cryptocurrencies in the future.

They came to this figure after surveying over 2,000 Brits. Four in five had heard of cryptocurrencies, 23% of those surveyed are currently looking to find out more, while 28% believed that Bitcoin et al would become a mainstream currency in the future.

Trust issues

A fifth said they would be shopping, both in-store and online, using cryptocurrency in the future. Trust, however, is still a major concern, with 43% not having purchased any Bitcoin for this reason and 55% believing cryptocurrencies need to be regulated like traditional currencies.

Maya Kumar, Head of the UK and Ireland, Luno, comments: “Our survey showed that 36% had not purchased cryptocurrencies because they didn’t understand the concept. There are public misunderstandings around cryptocurrencies that lead to this lack of trust. We believe by making cryptocurrencies easier to understand through education and offering a user-friendly, safe platform, more people across the globe can trust, benefit from and upgrade to a better financial system."